Another 3-day Weekend? Must Be Time For Some Jackass!


In what has become a tradition here in Turdville, our pal Jim Willie stopped by this morning for a wide-ranging, hour long discussion. <Note: This is a free, public thread!>

This baby checks in at just over an hour so you might want to break it up into parts. Download this to your computer/ipad and, if you need some time away from the pool or the beach, put in your earbuds and go to town! Amongst the topics discussed are these:

  • The latest developments in the budding "Eur-Asian Alliance"
  • The progress the BRIC nations are making in setting up the 21st Century financial system
  • Falling U.S. interest rates and the treasury market
  • DoucheBank and the other walking, TBTF zombies

Jim has promised to join us again for our next 3-day weekend in July. Until then, this hour-long discussion should satisfy even the most starved info-junkie.

Have a great weekend!



May 23, 2014 - 12:45pm

best entertainment since sliced bread

Jim-Mofo-Willie !!
ty dude

May 23, 2014 - 12:45pm
John Galt
May 23, 2014 - 12:45pm


How cool ! But the biggest bonus will be listening to another edition of Willie.

Thanks Turd, and have a great Memorial Day weekend!

2c piece
May 23, 2014 - 12:50pm

looking forward to Listening!

Looking forward listening. Thanks for the enhancement to a vacation weekend.

May 23, 2014 - 12:53pm

As usual i take the 5th

when asked certain things i pay for.

$10 bucks a month? Does not get any better any where! The End.

On to the show.

Big L
May 23, 2014 - 12:53pm

Starved info Junkie

If the shoe fits..... ;-)

I guess I've been 'outed'.

Mr. Fix
May 23, 2014 - 1:10pm

Dearest Craig:

Thank you! Thank you! Thank you!

I love long weekends and Jackass!

May 23, 2014 - 1:11pm

worser and worser

with just 2 days to go before the next "election"...

TF Metals fan
May 23, 2014 - 1:11pm

And another documentary.

And another documentary. Known information to the Turdites, but still nice to watch.

Link tip courtesy Mike Malloney

May 23, 2014 - 1:36pm

Thanks, Turd!

Great treat for the weekend.

As I was listening to the radio, I came across a few things that tie in well to our evergreen topics of deep bankster capture (in general) and the ways it is playing out in Ukraine. If anyone is in need of further reading/listening material, here are some suggestions:

Mainstream perspectives (BBC): WBR: The perils of doing business in Ukraine 20 May 14 (downloadable mp3, right click and 'Save As')

"Ukraine's wealthiest man, Rinat Akhmetov, throws his weight behind national unity, prompting pro-Ukraine demonstrations in the eastern industrial region of Donbass. We get the latest from New York Times correspondent Andrew Kramer, and find out from the CEO of Royal Dutch Shell what international business makes of the unrest. Also, we hear about the rise in the number of people having to go to food banks and soup kitchens in the UK. "

Nomi Prins: All the Presidents' Bankers: The Hidden Alliances that Drive American Power, was released on April 8, 2014.

She gave a number of talks detailing the intertwined, incestuous, and increasingly dominant role of banks in US government and policymaking. I can't find the most recent example from last night (probably has not been posted yet) of a talk she gave in Seattle. In lieu of that, here are a few interviews with her about the book. In short, we have been royally and irredeemably screwed for a VERY long time, this is not a new development...

Her website, with other books, articles, appearances is here:

Coast to Coast FM

Video unavailable

Majority Report FM

Majority Report 5/15/14 - Nomi Prins: All the Presidents' Bankers

All the Presidents' Bankers: The Hidden Alliances that Drive American Power

"All the Presidents’ Bankers: The Hidden Alliances that Drive American Poweris a groundbreaking narrative of how an elite group of men transformed the American economy and government, dictated foreign and domestic policy, and shaped world history. Culled from original presidential archival documents, All the Presidents’ Bankers delivers an explosive account of the hundred-year interdependence between the White House and Wall Street that transcends a simple analysis of money driving politics, or greed driving bankers, or bankers controlling governments. It presents the shocking genealogy of American power."

Light (semi)fictional weekend reading: The Trail

A financial thriller by Natalia Prentice (nome de plume)

"The Trail follows a young financial journalist who leaves Wall Street only to discover a mysterious document hidden deep within a secret Washington, D.C. network. As the body count escalates, she is trapped in a sinister world of off-shore embezzlement and on-shore power plays, where everyone is suspect, and death, dollars and danger fluctuate faster than the Dow. Chosen as a Forbes CEO Book Club Pick 2008"

May 23, 2014 - 1:39pm

LBJ on silver . . .

""Now, all of you know these changes are necessary for a very simple reason--silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins."

--Lyndon B. Johnson, President of the United States, July 23, 1965

May 23, 2014 - 2:01pm

Have A Great

Weekend everyone, me I'll listen to this tonight then cut grass tomorrow.

Bye the way just bought $27.05 in 90% this afternoon and have it for sale already.

May 23, 2014 - 2:03pm

Barclay's manipulations explained . . .

"While the London gold fixing is not an open and transparent market and thus is more vulnerable to manipulation, the sort of manipulation in the Barclays case is not peculiar to the fixing. For with enough money, anyone can manipulate any market. That's what anti-trust law in the United States and competition law in the U.K. and European Union recognize in principle. Many investment banks have access to far more money than most traders and even access to far more money than is available to the markets in which the investment banks are trading. Some investment bank money comes effectively from government, especially when government policy is to suppress interest rates to negligible levels."

Nothing new for most of us here in Turdville, but simple verification of what we know to be true.

May 23, 2014 - 2:08pm

TFMR Damsel Coin

TFMR Damsel Coin

Please, please, please consider asking Rachel to pose for a near future TFMR (TEOTGKE) Damsel Coin etching.

Rachel McAdams images


May 23, 2014 - 2:09pm

LMBA Silver users Survery

--This is definitely something that we should be taking part in. Same as any other survey or open comment period- they should be flooded with bold unapologetic truth and facts.

LBMA Receives Over 250 Responses So Far On Alternative To Silver Fixing

The first screen requires you to enter "your"; name, address, phone #, email, company.

--Next screen is

3. Feedback on Use of Current Price

1. For your current business model, how useful is the current London Silver Price mechanism?

--(They ask you to rank on a scale of 1-10, 10 being most useful)

2. How often do you currently use the London Silver Price?

--(They want you to check one box)




Not Applicable

If never, why not?

--(There is a text box if you select never)

3. Is the current Silver price discovery method sufficient?



If no, why not?

--(There is a text box if you select no)

4. Possible Improvements to London Silver Price

1. What new improvements would you like to see/recommend?

--(There is a text box for your answer)

2. What are the essential features that you would wish to see in any replacement?

--(There is a text box for your answer)

5. Silver Price Contributors

1. Which market participants would be the ideal contributors to the pricing mechanism? (e.g. bullion banks, manufacturers, refiners, other?).

--(There is a text box for your answer)

2. Would you consider acting as a contributor in any revised pricing mechanism (if appropriate)?




If not, why not?

--(There is a text box for your answer)

6. Other Comments

1. Other comments on the pricing mechanism?

--(There is a text box for your answer)

May 23, 2014 - 2:18pm

more confirmation of TF's analysis

LaSalle's Nedoss: Gold Moving Averages Bunched Closely Together

The closely followed short- and long-term moving averages in gold are all bunched extraordinarily close together and could portend a sharp move in either direction whenever gold busts out of its recent trading range, says Charlie Nedoss, senior market strategist with LaSalle Futures Group. For the Comex June gold contract, the 10-day moving average lies at $1,294.90 an ounce, the 20-day at $1,295.40, the 50-day at $1,304.20, the 100-day at $1,294.30 and the 200-day at $1,300.70. “At some point, I think we’re going to have a very big move,” Nedoss says. “It’s going to be $1,250 or $1,350 really fast, and I’m erring on the side of $1,350 just because of the geopolitical stuff (with Ukraine). I think it’s going to get worse (there) before it gets better. The market has been very constricted and in a tight, tight range and at some point it’s going to break out.”

'Wouldn't Want To Be Short Gold This Weekend' - Jim Wyckoff

Guest(s): Jim Wyckoff Market Analyst and Columnist

Following gold’s volatility Thursday morning after the release of key economic data, Jim Wyckoff is on Kitco News to explain the metal’s moves and how he sees it set up for the long weekend. “I think the next big development is probably going to be the Ukrainian presidential elections [on Sunday],” Wyckoff says. “Going into a long U.S. holiday weekend, I sure would not want to be short gold,” he adds. Wyckoff also says there may be some short covering, bargain hunting and even safe-haven demand for gold on Thursday and Friday ahead of the ‘uncertain’ weekend. Tune in now to hear his market ratings and key levels for both gold and silver.

May 23, 2014 - 2:19pm

Thank You!

Thank you Jim & Turd !

Coin Explorer
May 23, 2014 - 2:26pm

Check Pt and Pd charts!

Looks like someone combined their Pt and PD sell orders and had to fix it real quick!

Sparks fly out my ass
May 23, 2014 - 2:46pm

Turd, I may have missed

Did you get a reply from Hoffman @ Bloomburg verifying that the vaults in London are virtually empty? TIA

May 23, 2014 - 3:07pm

Dimon may be quitting JPM?

That's sad. He's one of the good guys.

Clarki Stomias
May 23, 2014 - 3:09pm

Rickards on Yellen's Tapering Plan of Attack

Um, okay Jim. Makes sense and you are one of the good guys out there and have my respect. But. All of the above in your thesis assumes that tapering is even going on. The Euroclear/Belgium anomaly makes it clear that is not the case.

FreddyKrugerrand silverwhere
May 23, 2014 - 3:20pm
May 23, 2014 - 3:28pm


They still need to go to jail. As I said many years ago, we make no progress until Hank Paulson is indicted.

May 23, 2014 - 3:31pm

Specifically ...

Thanks Turd, specifically for making this a public thread!

Now, if we could only get the public to care enough to actually listen!

Happy Memorial Day to the US folks! Sure hope you can figure out a way to get your President away from that Red button that he is telling everyone he is ready to press. What a Maroon!


May 23, 2014 - 3:51pm

Marc Faber: “I Will Never Sell My Gold”

Denver Dave -

Marc Faber did an interview on Bloomberg TV yesterday in which the host grilled him about his view on the financial markets and investments. If you want to skip ahead to the good part, the conversation turns to gold around the 8 minute mark (note: it takes a moment for the video to load):

Interestingly, he states that the only worthwhile risk/return speculative investment right now is mining shares.

In this regard, I will say that currently the junior mining shares are historically oversold and undervalued. In fact, the junior mining stocks represent the best stock market investment opportunity I’ve seen in nearly 30 years of being a stock market professional and researcher. I currently have two junior stock ideas offered on my website. We hold large positions in both in the hedge fund I co-manage.

May 23, 2014 - 3:51pm
May 23, 2014 - 4:20pm

@Clarki Stomias - Euroclear

Listening to a podcast from another website earlier this week Jim did note that his knowledge and understanding of the Euroclear system is fuzzy at best and is trying to do more research to understand its role.

For me this is something I have never heard of and am sure most here never have either since most are American centric.

Coin Explorer
May 23, 2014 - 4:26pm

Here is why Plat crashed this afternoon

Platinum Talks Extend Into Saturday in Bid to End 18-Week Strike (Bloomberg, May 23, 2014 2:08 PM ET)

Representatives from the world’s three biggest platinum producers and the main union at their South African mines will continue pay talks tomorrow in a bid to end a strike that’s crippled output for 18 weeks.

"State-owned SABC News television today reported that the parties had reached an agreement, citing AMCU lawyer Larry Dave. Mathunjwa said this was false. The report is incorrect, Dave said by phone. "

and now you know... the rest of the story.

May 23, 2014 - 4:34pm

Rorschach test...

Just like the real life test, my FIRST thought which came to mind when I read the Willie podcast headline was 'COOL", with a big smile on my face too. What is it about JW, Turd, and a long weekend that can create such energy ????

Thanks for the gift(s) Turd !!!!

History from Wikipedia: The Rorschach test (/ˈrɔrʃɑːk/ or /ˈrɔərʃɑːk/,[3] German pronunciation: [ˈʁoːɐʃax]; also known as the Rorschach inkblot test, the Rorschach technique, or simply the inkblot test) is a psychological test in which subjects' perceptions of inkblots are recorded and then analyzed using psychological interpretation, complex algorithms, or both. Some psychologists use this test to examine a person's personality characteristics and emotional functioning. It has been employed to detect underlying thought disorder, especially in cases where patients are reluctant to describe their thinking processes openly.[4] The test is named after its creator, Swiss psychologist Hermann Rorschach.

and, just for fun.....

May 23, 2014 - 4:38pm


It's the system used for clearing bond trades in Europe, just like DTC in the US. If a European client buys bonds from a US dealer, often those will settle through Euroclear as well.


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 4/22

4/22 10:00 ET Existing Home Sales
4/23 10:00 ET New Home Sales
4/25 8:30 ET Durable Goods
4/26 8:30 ET Q1 GDP first guess

Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
4/1 10:00 ET Business Inventories (Jan)
4/2 8:30 ET Durable Goods (Feb)
4/3 9:45 ET Markit & ISM Services PMIs
4/5 8:30 ET BLSBS